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Trading mark up

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  • #16
    That's correct, rich hand, I've not. I have however replaced a kitchen in a lower-end rental that is a long term hold of mine. It was very hard biting one's tongue at all phases. I had to wear a hat and disguise entering Placemakers lest anyone saw me purchase an off-the-shelf kitchen. *shudder*


    • #17
      The tiled or glass splashback makes things look a lot better.

      I usually just sand down and repaint the older wood kitchens with a nice colour and then add the nice stainless steel handles. A bit budget for middle auckland?

      Also will be buying a second hand stainless steel bench and cutting to size.


      • #18
        Originally posted by One View Post
        We're just getting quotes for new kitchen joinery for our PPOR. Really want floor-to-ceiling cupboards. Amazing what that does to the price! Basically rules out flatpack, as far as I can tell.
        That would be because a standard sheet of material is 2.4m. If you have a 2.4m stud height then all is well - our place is 2.7m so doesn't work. Also cupboards high up just accumulate clutter because noone wants to get a ladder to see what is there. So our cupboards are around 2.2m high but we have added a 'wall' above the units to totally enclose the space (nothing worse that gressy dust balls on top of cabinets).


        • #19
          Glass spashbacks are nice. They are expensive though. Just shelled out 2.5k for a relatively small one in my home.


          • #20
            The other half never throws anything out so we've got the clutter. I want to get it off high open shelves and into high cupboards!

            But our stud's only 2.4 so not sure why floor to ceiling cupboards are pushing the cost up so much. I'll ask. And I've still got to get another quote.


            • #21
              Hi Ross,

              Can you shed light on when GST is payable as a property investor? I'm interested in setting up a company and buying 'do-ups' with the intention of re-selling them for profit. My understanding was that if I buy and sell as a company, I only need to pay the tax on any profit made. Are you saying I would also need to pay GST?



              • #22
                If you are trading you would pay GST the same as anyone else who trades goods - your goods is a house, the dairy sells milk, both pay and claim GST.


                • #23
                  Yes I agree with Wayne. Generally you can claim the GST once you have settled on the property (even if on invoice basis, if the vendor is not registered for GST, you can only claim the GST once settled), and also pay GST a month or two after sale, depending on the GST periods you are on.

                  Book a free chat here
                  Ross Barnett - Property Accountant